More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies' operating costs and capex needs, says Fitch Ratings in a new report."This may negatively affect their credit quality unless they manage to pass these costs to customers.
Oil major BP on Tuesday offloaded about 1 million barrels of Angolan crude from supertanker Olympic Light to an independent Chinese refiner after holding the oil at sea for about three months, people with knowledge of the discharge said on Wednesday.The oil had been aboard one of four supertankers held up or delayed off China's east coast near Shandong since as long ago as April
Italian oil major expects to invest $1.795 billion in three offshore Mexican oil fields by 2040, according to a development plan approved by Mexico's oil regulator on Tuesday.The plan covering the Amoca, Mizton and Tecoalli shallow water fields is the second one approved by the regulator, known as the National Hydrocarbons Commission (CNH)
The U.S. Navy’s newest aircraft carrier has returned to Huntington Ingalls Industries’ Newport News Shipbuilding division for 12 months of modifications, upgrades, system improvements and repairs.On Sunday USS Gerald R. Ford (CVN 78) was moved to the shipyard’s Pier 3, where it will undergo a maintenance period typical of newly delivered warships.The $13 billion USS Gerald R.
Ridership on the new NYC Ferry system has far exceeded expectations, serving 5 million passengers since the service was launched in May 2017. Now, in response to the record-breaking demand, new larger-capacity ferries are being built for New York waters, the first of which, Ocean Queen Rockstar, has arrived in New York this week.
In an address to Western Dredging Association (WEDA) stakeholders, William P. Doyle, CEO & Executive Director Dredging Contractors of America told his audience: It all starts with dredging. To follow are Doyle's prepared remarks: Good Morning, and thank you for inviting me here today to open-up the conference.
A U.S. House committee will kick off debate next week on three new bills aimed at boosting offshore wind energy leases in federal waters.The House Subcommittee on Energy and Mineral Resources will hold a hearing on Tuesday on three bipartisan offshore wind proposals.One proposal would require the Interior Department to develop a leasing plan or schedule for federal offshore leases
Located at the confluence of the Tennessee-Tombigbee Waterway, the Ohio River and the Cumberland River and just upstream from the Mississippi, the City of Paducah is an important hub in the inland waterways network. In 2015, newly appointed Paducah-McCracken County Riverport Authority Executive Director Bill Miller’s first priority was to upgrade the port’s infrastructure.
The United Nations shipping agency reached an agreement on Friday to cut carbon emissions, following years of slow progress. The compromise plan, which will cut emissions by at least 50 percent by 2050 compared with 2008 levels, fell short of more ambitious targets. Kitack Lim, Secretary-General of the International Maritime Organization (IMO)
As the U.S. Coast Guard tightens its BWTS compliance rules and more systems are approved, there are still many unanswered questions for operators finally looking to comply.It’s no secret among marine stakeholders that ballast water regulations remain a top concern at the start of 2018, and a confusing one, to say the least.
MMA's RADM McDonald joyfully announces that the long-awaited National Security Multi-mission Vessel (NSMV) Program now has legs. On Friday 23 March 2018, President Donald Trump signed the FY18 Omnibus spending bill into law. Massachusetts Maritime Academy President Fran McDonald brought the news to his MMA constituents in a brief prepared staement
Asia's oil and gas producers are starting to revive projects aimed at deflating years of ballooning energy imports after new investment dried up following the 2014 industry crisis. Spending has so far been driven mainly by state oil companies such as India's ONGC, Thailand's PTTEP and PetroVietnam, which need to produce more oil and gas to ensure their countries' energy security